Global Biotech M&A Takes A Breather On Looming Tax Reform

Global biotechnology mergers and acquisitions are headed for the lowest annual level in four years, according to data compiled by Bloomberg. There have been just $11.5 billion in takeovers announced so far this year, on track for almost half of the yearly totals in the past two years, the data show. Oppenheimer says deals are currently on hold as potential buyers such as pharmaceutical giant Pfizer Inc. await clarity surrounding President Donald Trump’s promised tax reform.